Bagel Deli Shop

Passaic County, New Jersey - United States •
Asking Price
$175,000

Description

Solid Deli Bagel business located in Northern New Jersey in the county of Passaic on an active commercial avenue serving various communities in the general area. The products severed are the best quality and the business has a wonderful reputation. The business has a yearly gross income of $343,328 and a net yearly income of $72,500 based on onsite ownership. The business offers a wide variety of breakfast and lunch special to its loyal customers. This is a dependable business opportunity for a motivated buyer and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent investment return to the owner operator prior to debt service. This food industry does not require government agency approval to purchase or operate.This retail facility which consists of 1,665 square feet with an attractive modern appearance. The business is in a mid-size commercial mall with various other active and successful businesses. This opportunity is located in Northern New Jersey, Passaic County, which consists of various affluent communities with continued demand for this particular industry. This particular business has four employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $6,800. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $2,450 and rent security $5,000. The business is located in an active commercial facility which consists of 1,665 square feet has a capacity for approximately twenty-two customers. The business assets have an estimated value of $145,000 which is based on the past year corporate tax returns. The sale consists of a fully equipped deli which includes a full commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to the purchaser upon request. The facility has appropriate private mall parking on site as part of the commercial lease. The company is active seven days per week, with hours from 6:00 am to 3:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state or city food licenses to conduct its day to day business.The owner will remain post-closing in order to supply an appropriate training & transitional period to the new operator. Also if required the seller will supply additional training at a fair cost to the purchaser. The owner is absentee with corporate ownership. The business presently has a.limited marketing plan, basic web site, poor catering and if improved can further develop the business bottom line net income. .To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business, and the owner has agreed to supply a long term non-compete agreement to the purchaser. The 2015 yearly gross income is $343,000, and the business has a yearly net income of $72,500 based on an onsite owner operator and prior to debt service. The business has been valued at $175,000 based on a multiple of the average net yearly income which includes the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral, and credit rating.

Financials (USD)

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